Buying small biz: VOIP reseller small business |
- Buying small biz: VOIP reseller
- How is the "rel=sponsored" Google policy effecting your SEO?
- College Student Building a Translation Company
- Is it illegal to re label wholesale shirts?
- Pop-up shops as a marketing strategy
- What are some helpful business related youtube channels?
- Raising capital for e-commerce based business
- What platform do you think is the best to purchase a domain name? I’m thinking Wix... seems pricey?
- Anybody knows some good podcast about farming / beverage industry?
- 2 in 1 Special
- What is my business address?
- My dream is to open up a photo studio rental space for photographers and models to utilize; anyone have any suggestions or insight into the process of this and/or the challenges I would be facing?
- Finding quality management staff to hire?
- Considering Moving to Australia for a year for work [help]
- Lease to own aerial application business
- Help! One personal brand for multiple skills, or multiple brands for each skill???
- Looking for opinions on a valuation of my business
- Are there insurance benefits for establishing a wellness program?
- Update to 200k outstanding debt & need collections rec.
- Contacting old employer's clients- what to put in an about page, etc.
- Payroll Software
- Incorporating using a lawyer
- Is there ANY other audit I have to endure?
- How to change s-corp ownership percentages (CT)
- Super basic work order ticket system
| Buying small biz: VOIP reseller Posted: 07 Dec 2019 02:06 AM PST Alternative account so not to divulge sensitive info. I have an opportunity to purchase a VOIP reseller. I'm a non-technical buyer. I'm seeking advice to help me decide to go ahead or not, and how to go ahead if it looks good. Business outline:
Annual financials outline:
No physical assets of any significance. Strong firewall product, which forms part of the business' differentiation. Expenses include all staff costs. Profit includes add-back of personal drawings/expenses. All current liabilities and assets for sellers account. No long term debt or other liabilities. Contract info:
Any advice or guidance would be well received. [link] [comments]  |
| How is the "rel=sponsored" Google policy effecting your SEO? Posted: 06 Dec 2019 09:19 AM PST I hired a team to do SEO for my e-commerce business last year and I love them to bits, they were reasonably priced and delivered as promised, increasing our ranking for many relevant keywords. But, this latest Google change has me worried as many of our back links now have the sponsored attribute in them. What do I do? I don't want to anger Google and have our site banished. How are you building links now? [link] [comments]  |
| College Student Building a Translation Company Posted: 06 Dec 2019 09:04 PM PST I [21M] am a college student that works part time in an immigration firm as a paralegal. This firm hires third party individuals to do document translations for clients. For some reason those individuals do a poor job in the quality of the documents so I decided to build my own company since I speak Spanish. I am also in the process of becoming a notary so will be doing that too and billing separately. I have built a website with a logo and domain but I'm unsure how to go about the government side of things. I am thinking of creating an LLC to protect myself against any problems that could arise (highly doubtful) but the legal world is nasty. Is an LLC the best way to go for my case? Would I need an EIN if I'm the only person in the company? Would there be any special taxes that I would need to file other than those of myself? I don't expect income to be anything major. Translations are roughly $15-20 per page so considering I do 150 pages this year throughout my free time, that would be an income between $2,500-3,000.00. I don't expect to generate much from notarization. Of course that number could greatly increase depending on work load but I don't expect to gain over $10,000 in any scenario. Any advice would be appreciated. I feel this is the kind of thing that I should have learned in both high school and college but they decided that Algebra was more important. tl;dr: Building translation company. Expected Income <10K. Is LLC good idea? Any other tips? [link] [comments]  |
| Is it illegal to re label wholesale shirts? Posted: 06 Dec 2019 10:53 PM PST Is it illegal to re-brand wholesale bought shirts? If it has a rip away tag, am I legally allowed to stitch my own branded label and customize my shirt? (Street wear) [link] [comments]  |
| Pop-up shops as a marketing strategy Posted: 07 Dec 2019 03:38 AM PST I'm a final year student currently working on my dissertation project which is about small retail businesses and their thoughts about the "pop-up shop" concept. I'd like to know what this subreddit has to say about their interactions with pop-ups and if a dedicated online platform for them would attract more traffic to businesses. I've created a short survey which should take 5 to 10 minutes to complete. Please feel free to participate if you are a retail business owner OR a major stakeholder or decision-maker of a retail business (co-owner, general manager, etc.) OR if you or your business is interested in opening a pop-up shop/event. Or you can just let me know how you feel about them in the comments :) Thanks! Form url: https://forms.gle/N2i6gjtQUucagoxj8 [link] [comments]  |
| What are some helpful business related youtube channels? Posted: 06 Dec 2019 12:20 PM PST I'm in the sewing/lingerie/handmade category. I've been binge watching Business Insider's youtube videos, and wanted to know if any of you have suggestions for youtube channels. It could be people showing the bts of their business, how they organize it, the legal side, how to start a business, how to deal with crappy customers, mistakes made business wise, etc [link] [comments]  |
| Raising capital for e-commerce based business Posted: 07 Dec 2019 01:47 AM PST Hello! Everyone I'm kind of new to reddit posted questions here and there but I am looking for advice and tips. I currently run an e-commerce based men's jewelry brand with a small wholesale aspect to smaller retailers. The business was started in August 2018 and have brought in over 550k in revenue since launch in 2018. Our sales have grown and over the past two months have brought in around 80k, with 30k of that being last weekend. Everything is self funded and have shown small profits, our products have about a 90% markup with custom branded packaging etc. everything is done in house from customer service, fulfillment, to design. All of our actual product and packaging production is being done over seas. My question is I would like to grow this into a multi brand company within the next two years. With different brands for denim, apparel, shoes etc. I would like to know any tips or insight on crowd funding, I also have talked to a broker who would help Broker investments for a retainer price of 15k. Any input is welcome! Thanks! [link] [comments]  |
| What platform do you think is the best to purchase a domain name? I’m thinking Wix... seems pricey? Posted: 06 Dec 2019 07:32 PM PST |
| Anybody knows some good podcast about farming / beverage industry? Posted: 06 Dec 2019 05:20 AM PST I'm looking for some insights on how to start your own beverage company as a farm owner. [link] [comments]  |
| Posted: 07 Dec 2019 12:42 AM PST Hello Everyone👋🏻 I am in the process of opening up a small ice cream shop in Southern California! I have found an opportunity to sublease approximately 1200 square feet from an existing Pizza Shop. I plan on creating my own name and image to differentiate from the pizza shop. His business consists of carry outs & deliveries. The location itself has 3 entrances and a layout can be created to accommodate the both of us, including a nice seating area. Ideally he would like to cut down his rent and split expenses with me. I would like to know if I can utilize his current license or if I need to get my own? Is there any reason why this could be a bad idea? I appreciate all types of feedback! I am shooting to have something up and running by April of 2020!! Thank you in advance [link] [comments]  |
| Posted: 06 Dec 2019 09:22 PM PST I registered an LLC in Delaware a few days ago, although I live in another state. I intent to use this entity for multiple different ventures, one of those being selling items on Amazon. I want to start familiarizing myself with the Amazon seller app but to do so I need to create an Amazon seller account, which is what I'm doing now. I am stuck on one question however: What is my business address? What ramifications will the answer have on my tax obligations? [link] [comments]  |
| Posted: 06 Dec 2019 08:27 AM PST So one of my main questions that I've always wondered about people that start small businesses in those plazas or whatnot is, is it common for those owners to have taken out some kind of loan to start the business? Or is it more common that people actually save up a good chunk of money and utilize their own pocket for all of the costs of starting it up? To my understanding, the latter is better since you don't have to deal with paying anyone back and whatnot, but is it just straight up a bad idea to utilize a loan to start up a company when you have little saved up? I have a normal 9-5, but am also a freelance photographer on the side, so I have my own website, social media, etc. Any ideas as to what would be the steps into transitioning from here to a physical space with equipment that'd be ready to be open to other photographers that would want to utilize it, as well as myself? As I can imagine, it's a heavy initial cost, what with the space and the equipment costs, and the power to run it all. I'm totally oblivious to loans, so is there a way in which I can lessen the risk of this undertaking when looking for loans and other finance options? What are some legal challenges I would need to consider? And finally, at what point in the process should I be taking care of creating and trademarking the brand name/logo? Is this in the beginning? Apologies if this is all over the place. I literally have zero knowledge in this whole process and would like a better idea of how possible it is for me to pursue this at this time, or near future. [link] [comments]  |
| Finding quality management staff to hire? Posted: 06 Dec 2019 08:32 PM PST I'm starting to get to the point where I need some upper level management to take some of the load, other than promoting a already employed person, where should i look to find someone that would be able to take on most of running a business? [link] [comments]  |
| Considering Moving to Australia for a year for work [help] Posted: 06 Dec 2019 04:05 PM PST So I'm considering moving to aus for a year for an experience, the only thing that kept me back was my Business and ex girlfriend; now it's just my business. The question is, I sell through some online marketplaces/Etsy and shopify, with a turnover of around £8000 a year, net is 4-5. I need some advice of what to do, it's a passive product that I have developed/produced all the graphics/sourced cheapest suppliers etc - but requires storage of a lot of a single product, is selling the business viable? December alone, I take 2/3rds of the annual revenue. Curious as to what more experienced people would do [link] [comments]  |
| Lease to own aerial application business Posted: 06 Dec 2019 07:33 PM PST Since college I have been trying to work into the aerial application or crop dusting business. I have been on and off involved with it on ground operations for a few years now and have been a professional pilot in other non ag operations for around 6 years. It's very hard in this industry to get what we call a seat, which is where someone hires you to fly ag planes. The last three years I've taken a different good paying flying job because of having my first child and soon to be second. I've kept close contact with some older owners I've wanted to work with but they didn't have any work for a guy with no experience at the time. Well now these operators are at the point where they are looking to sell out. I have been spending all my extra time not flying my regular job to help out on their operations. One of the owners has agreed to let me lease one of his smaller planes to work this summer so I can gain flying experience. I still have plenty of flight school debt left to pay off as well as mortgages and cars. So basically I don't have much startup cash. Other than about $10,000 in savings. My plan is to offer a lease to own on two of his planes with the intention of owning or paying it off in around 4-5 years. I already have two pilots lined up that I can hire to work in those airplanes. [link] [comments]  |
| Help! One personal brand for multiple skills, or multiple brands for each skill??? Posted: 06 Dec 2019 11:21 AM PST Hey there, I'm at a crossroads with my small business I'd love some advice on! If you offer multiple skills/services, do you split them into multiple brands or do you have one brand for everything? I have a personal brand as an artist, but am now also doing graphic design and don't know whether to keep the same brand for both or create a new brand for my design services? I'd love to hear your thoughts :) I'm also happy to explain further if needed. Thank you all! [link] [comments]  |
| Looking for opinions on a valuation of my business Posted: 06 Dec 2019 02:30 PM PST Hi all, I'm looking to sell my business and would love to hear some opinions on rough valuation. This year and last we did $1.1m in annual gross sales, with ~$200k annual profit and ~$150k owner salaries (my three partners @ $50k each, I no longer work there). It's a dog daycare business with multiple locations in one of the major US cities. We do not own any of the locations, but we have long term leases with options to further extend those leases. There are no physical assets of significant value, as each location is basically a big, empty dog-proof room. My partners are overpaid, and could be replaced in their roles for $100k/year. The business is not dependent on them or myself as individuals (clients do not know us personally), but as they are currently filling all of the administrative roles, it's not a true turnkey business as they'd need to be replaced at the outset. Staffing and turnover are our biggest challenges, which is mostly due to the fact that my one partner who manages that area is simply not cut out to run a business. He was our first employee years ago, and we added him as a partner when we were young and inexperienced, but are stuck with him at this point. Staffing operations are not systematized at all, and while it doesn't affect the client-facing side of things, the staffing/scheduling needs a major overhaul as his ad hoc solutions for dealing with 30+ employees are no longer cutting it. Back-end operations are all systematized, running smoothly, much of it automated, and we have robust financial and client/attendance data dating back to the beginning of 2015, when we switched over to a new software program. All payments from 2015-present are card-only, so there's no cash that was taken under the table and all of our data is easily available in one place. I know I'm going to get suggestions to simply pay someone to run the business and collect profits, but it's not practical in this situation, nor am I even interested in that option at this point. I moved across the country a few years ago to live a rural existence, and have zero interest in leaving my life here to return to the city and get things back on track. Same goes for the idea firing my partners and managing things remotely, the stress involved is simply not worth any amount of money to me. My partners are all interested in moving on with their lives as well (and couldn't buy me out if they wanted to), and as this is a staffing-dependent business, it really requires someone with a vested interest in it to be available, at the very least, for emergencies and last-minute call-outs. I know valuations can be all over the place and ultimately the business is only worth what someone is willing to pay, but I'd love to hear your thoughts on what a reasonable asking price would look like. Thanks! [link] [comments]  |
| Are there insurance benefits for establishing a wellness program? Posted: 06 Dec 2019 06:20 AM PST I'm marketing for a small gym. They are trying to get B2B corporate accounts set up. I'm marketing our corporate account to local businesses as a way to improve employee satisfaction and work culture, but are there any financial incentives (insurance savings) for them establishing a wellness program? Thanks for your help! [link] [comments]  |
| Update to 200k outstanding debt & need collections rec. Posted: 06 Dec 2019 12:13 PM PST I posted a few weeks ago about our issue - basically on annual sales of $2M we have over 200k outstanding. So we did a few things. First we found major issue was book keeper was doing an incredibly poor job managing the companies finances. We let her go. I then went through all the integrations - we are pushing our application's client invoices that are generated within our own system to quickbooks, and found some issues with this. This caused the bottom line to jump $300k, and some of the outstanding debt was wiped (the client paid but the payment did not reconcile). So now we are down to about $75k in known bad debt and another 75k in debt to be investigated (probably at least half of this can be wiped - due to bad sync issues or client cancelling and we didn't update books). I'd like to use collection agencies (maybe) for some of the bad debt, some are not U.S. companies so we probably have no recourse. But some are businesses that we know to be in good standing and can probably be collected from. Any recommendations here? I know most people say just walk away, but this is not just 1-2 clients, maybe it's 10 companies in total that we can potentially collect from. [link] [comments]  |
| Contacting old employer's clients- what to put in an about page, etc. Posted: 06 Dec 2019 06:05 PM PST I am currently freelancing for my old employer. There's no contract or anything of what I am allowed to do or who I can work with or anything at all, I just do the work and make a cut of what they bill their clients. I would like to branch out and get some of my own clients and make 100%. My old employer is not really in the game anymore since they're well over retirement age, and thus I am not having as many projects and not making enough money anymore. They've made mention of selling the business to me but I do not want to do that. I've always been underpaid by them and it would never be worth it, but I love the work. I know they still have the clients I'd like to reach out to (OH, and no, my old employer is not particularly nice and would not want to help me in any way. There's actually many good reasons why I should stop working for them and do my own thing based on how they've treated me over the years, but I digress). I think these clients may not remember me though, as its been a few years since I was in touch with these clients as an employee for my old employer, and plus my last name has changed. So I would like to just go in fresh, but I've got the contact info and know who/where they are. Has anyone ever done this? I actually know my boss did, but he just full on took his old boss's clients back in the day. I'm just left with no choice over here with the low workload. And the clients have plenty to go around anyway, I would not be putting my boss out of business by any means. One thing that has me stumped is my about section on my website. I have a portfolio of work, but those were never solely my clients, even though I did the work. I have *no* names of who the clients were, so it is relatively anonymous, and it is actually the same even on other people's websites who do what I do- who the clients are is not of importance. It's all just the photos of the projects, all just showing you know how to do it. I have been doing this for over 10 years. I feel stuck on what else to say in my about section, because I can't say things like "I have worked for various clients doing blah blah" or can I? Because MY business has not personally worked with ANYONE outside of my old employer and as a freelancer for them. "Been working on _____ for over 10 years, doing ______ for various clients meeting the requirements of blah blah" I just want to avoid any wording that is a lie but I do not think it would be best to tell my life story of where I'm at now, or say I freelance for companies when I'm trying to do this myself. I think this would be off-putting having it in a bio, however. I am looking for any tips of how to proceed with this. [link] [comments]  |
| Posted: 06 Dec 2019 01:32 PM PST Hello, I'm starting a company in the staffing industry and I'm looking into payroll softwares. I'm familiar with the millennium payroll software that comes from companies like PayPro and ADS. But I'm not opposed to switching to something completely different if the price was good and the features were identical. I'm looking for something that will pay payroll taxes, process ACH, W2s, 1095-C, view paystubs online and track sick time. (Company located in New Jersey if that matters) Data will be transferred for an EHR (Electronic Health Record) system. What do you guys use? And how do you pay? *Payroll Processing fee/per run (I'm doing weekly) *Tax services *Direct Deposit *Online pay stubs *Amount per W2/1095-C *anything else I'm not including Any suggestions and leads on payroll software i should look into? Thanks! [link] [comments]  |
| Posted: 06 Dec 2019 01:10 PM PST I live in California and want to incorporate my software business. I've done it a couple times before, once with LegalZoom and once with my CPA via an attorney (who I never talked to). By this point I'm quite familiar with the procedures, and figure I should do it myself. Or is it a bad idea? Does using an attorney offer any protections or advantages? I'd rather save that $1000 and use it for marketing. [link] [comments]  |
| Is there ANY other audit I have to endure? Posted: 06 Dec 2019 04:30 PM PST I run a small firm with 6 employees. I had to fire an employee because she was embezzling money. I didn't press charges, I just wanted her gone. Fast-forward a year later. She is now working for a competitor. In the past two months I've been subject to a DOT investigation, a Fire Marshal visit, a Worker's Comp audit and just had the State Tax people combing my books/taxes for the past week. I've passed all investigations, but it got me thinking that there are too many coincidences here. I'm positive she/my competitor instigated most of those audits/investigations. My question is this, are there any other investigations/audits they can do to me? As I've said before, I've passed everything, as I run a very tight ship (except the embezzlement, which was nipped quickly). I just want to be ready. Thanks for any input! [link] [comments]  |
| How to change s-corp ownership percentages (CT) Posted: 06 Dec 2019 04:25 PM PST Not sure if this should be posted here but here I go. I have an s-corp with ownership split between myself and another person. How would we go about changing the ownership percentages? Is there a form to be refiled such as form 2553 with updated percentages? (incorporated in CT) TIA [link] [comments]  |
| Super basic work order ticket system Posted: 06 Dec 2019 12:25 PM PST My small business is looking for a free super basic ticket system. A team member will submit a ticket for a repair and it will then email our tech who can then do the repair and then update the ticket. That's it. That's all we need. I have been looking online and there seem to be a million different systems. Some claim to be free but they are all complicated and trying to get you to upgrade. Has anyone here heard of any super basic systems like the one I described? Thanks so much! [link] [comments]  |
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